The main Panerai London Design Medal award was given to Ronan and Erwan Bouroullec, who have designed furniture, accessories and products for brands including Vitra, Alessi, Established & Sons and Cappelinni.
"This medal is the highest accolade bestowed upon an individual or in this case, individuals, who have distinguished themselves within the industry and demonstrated consistent design excellence over a number of years," said a statement from the organisers.
Richard Rogers – the architect responsible for the Pompidou Centre in Paris and London's Lloyd's Building and Millenium Done – was given the Coutts Lifetime Achievement Medal, which "honours an individual who has made significant and fundamental contributions to the design industry over their career".
The winner of the Perrier-Jouët Design Entrepreneur Medal is London-based Nicholas Roope, founder of website design agency Poke and technology company Hulger – creators of the Plumen low-energy light bulbs.
Fellow Londoner Roland Lamb will receive the Swarovski Emerging Talent Medal, which recognises a designer who has made an impact of the design scene within five years of graduation.
Lamb designed the Seaboard keyboard with squishy silicone keys that allow musicians to alter the pitch, volume and timbre of individual notes, which won the product category for Designs of the Year 2014.
The announcement was made at a conference held in Rogers' newly completed Leadenhall Building in the City of London today, as part of this year's London Design Festival.
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The winners will receive their medals during a dinner this evening, also taking place in the Rogers-designed tower.